Raymond's billionaire head Gautam Singhania announces separation from wife

Mumbai: Billionaire industrialist Gautam Singhania on Monday said he has separated from his wife Nawaz, in an announcement that comes amid speculation over the future of the 32-year relationship. Singhania, the chairman and managing director of Raymond, who's net worth is reported to be over Rs 11,000 crore, made the announcement over the microblogging platform X, saying it is not the same Diwali as in the past. The industrialist, who is helming the multi-decade group having roots in textiles and branched out into newer ones like real estate, said Nawaz, a fitness trainer, and he were together for 32 years as a couple.

The couple has two children and Singhania said they grew together in their years of companionship and were a source of strength for each other. "We traversed with commitment, resolve, faith as along came the two most beautiful additions of our lives," he wrote. The announcement came minutes after a video surfaced online which purportedly shows Nawaz allegedly not being allowed to enter a party hosted by Singhania at Thane last week despite an invite for the pre-Diwali bash. In his post, Singhania made a mention of "unfortunate developments in the recent past", and added that there has been a lot of "unsubstantiated rumour mongering and gossip" fanned by what he called as "not so well wishers".

Singhania did not give details of the separation and custody of their two children, and sought privacy and respect for personal decisions in the post. "It is my belief that Nawaz and I will pursue different paths from here on," he said, adding that both the parents are committed to do whatever is the best for their two children. Nawaz, the daughter of a well known lawyer, also studied law but opened a gym in a tony neighbourhood. She was reported to have dated Singhania, who loves fast cars, for eight years before the marriage in 1999. Minutes before announcing the separation, Gautam Singhania wrote on X about his group's real estate arm continuing to expand its presence across Mumbai. "We have secured 3 new real estate projects in the (Mumbai Metropolitan) Region, with a combined revenue potential of over Rs 5,000 crore (USD 678 million).

"Our realty business has seen a strong growth trajectory over the last couple of projects and we are confident of delivering on the highest level of quality and finesse associated with Raymond Group for the upcoming projects," he said. Singhania was in news a couple of years back over a feud with his father Vijaypat. Vijaypat Singhania created Raymond Group, which became a household name in India, producing apparels brands and textiles. His son, Guatam diversified the group into more sectors in an attempt to widen the revenue. Just like father who was a noted aviator, flying commercial aircraft for free, Gautam Singhania too is known for his adventurous streaks, racing fast cars in circuits around the world.